Neha has just completed her MBA and joined a startup company. The company was planning to launch a new product in the market so the management wanted to understand the different factors that can impact the demand and supply of their products in the market. Help Neha to prepare a report on the factors impacting demand and supply of products in the market.
Answers
Answered by
1
Major factors that will impact demand and supply of a product in market is as follows:
1. Quality: If the quality of product is good in comparison to what is available in market will always be in demand.
2. Price: Apart from Quality if the product, its price impacts the demand. If the price is low in comparison with competitors demand will be high
3.Advertising: More is the demand if more people are aware of the good product.
Similar questions